Yeah, I tend to hold the compass at arms length, but with my elbow kinda bent a little, and replace the factory lanyard with one of sufficient length. I've been using some "Sportsman Cord" that I found at a Walmart some years back.

I don't like the feel of the lanyard bobbing back & forth on my stomach when walking, so either I wear a shirt with a breast pocket or stow the compass in another pocket (pants, fanny pack, day pack, etc ...).

I've read people suggesting to attach the lanyard to something other than a neck in order to minimize risks of strangulation. So far I still put it around my neck.